There are 18 tactics contractors can use to improve cash flow at the project and the company level. Capital is one of the 3 basic constraints for any contracting business so continuous improvement of every process related to cash flow enables sustainable growth.
- Just like improving field productivity there is no single tactic that will make cash flow good forever. It is important to use the lean principle of Kaizen building a culture, operating rhythms and processes around incrementally improving every detail.
- Not every tactic will work on every project or with every contractor but taken together these 18 tactics are guaranteed to significantly improve your cash flow.
- While the executives and the finance team play a big part in cash flow the majority of the tactics are within the control of the project team and are the direct responsibility of the Project Manager.
We are revamping our publicly available cash flow workshop that includes these 18 tactics that contractors can use to accelerate cash flow. Stay informed of updates on release.